Honda ICON e: Significant price reduction heats up the race for market share in Vietnam's electric motorcycle market.
Honda has officially adjusted the list price of its ICON e electric scooter, reducing it by nearly 23%, joining the price war with VinFast and Yamaha to increase its market share in Vietnam.
Honda Vietnam has made a surprising move by lowering the list price of its ICON e: electric scooter and accompanying battery system. This is a rare step for the Japanese brand, known for its stable pricing policy, demonstrating its determination to compete directly with rivals in the rapidly growing electric vehicle segment.
Honda ICON e's repricing strategy:
Honda's first electric motorcycle model in the Vietnamese market has seen a uniform price reduction of VND 5,890,909 for all three versions. Specifically, after adding the cost of the bundled battery, the actual price of the vehicle has decreased by approximately VND 6.7 million, equivalent to nearly 23% compared to the initial announced price.
| Version | Initial suggested price (VND) | Suggested adjusted price (VND) | Adjustment amount (VND) |
|---|---|---|---|
| Honda ICON e: Premium | 26,410,909 | 20,520,000 | - 5,890,909 |
| Honda ICON e: Special | 26,607,273 | 20,716,363 | - 5,890,910 |
| Honda ICON e: Sport | 26,803,637 | 20,912,727 | - 5,890,910 |
| Battery included with the car. | 9,621,818 | 8,836,363 | - 785,455 |
Notably, while the price of batteries bundled with the vehicle has decreased slightly, the price of batteries sold as accessories has surged from 9,621,818 VND to 12,219,120 VND, an increase of nearly 2.6 million VND.
Competitive pressure from rivals in the same segment.
Honda's decision to narrow its profit margin is considered necessary by experts, given the numerous challenges facing the ICON e:. Compared to direct competitors like the VinFast EVO or Yadea Ostar, Honda's model has not yet demonstrated superior technical specifications, especially in terms of battery capacity and driving range.
Furthermore, Honda's supporting ecosystem, including charging stations and battery swapping stations, is still under development and has not yet achieved the same widespread coverage as VinFast – the brand currently holding the market leader.
VinFast's dominance and flexible pricing strategy.
VinFast is currently the biggest force in the electric motorcycle market in Vietnam, with impressive sales reaching 406,453 units in 2025. In March 2026 alone, the company delivered approximately 93,000 additional vehicles. This success stems from maintaining a flexible pricing policy and regularly launching aggressive promotional programs.
Furthermore, the synchronized development of the ecosystem, from charging stations to battery swapping policies, has helped VinFast create a significant barrier to entry for new brands. Models like the Feliz II and Evo200 are continuously optimized in terms of price and features, becoming the preferred choice for consumers thanks to their high-performance batteries and low operating costs.
Yamaha joins the promotional race.
Not wanting to be left out, Yamaha is also boosting sales of its NEO electric scooter. While maintaining the listed price at 49 million VND, the Japanese manufacturer is continuously offering cash vouchers of up to 15 million VND starting in April 2025.
This move brings the actual selling price of NEO's down to around 32 million VND, a much more accessible price for users looking for a premium electric vehicle with a modern design and the ability to install two batteries to extend the driving range to 144 km.
Electric motorcycle market: Consumers benefit greatly.
The race to cut profits and gain market share among giants like Honda, VinFast, and Yamaha is directly benefiting Vietnamese customers. Not only are electric motorcycles more affordable, but current models also show significant improvements in quality, battery technology, and supporting infrastructure.
The significant investment in charging stations, battery swapping stations, and dedicated parking lots is accelerating the transition from gasoline to electric vehicles in major cities, promising an even more explosive electric motorcycle market in the near future.
